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who's right on the fiscal cliff right now? >> well, i think that -- >> steven gilfoil. >> the consumer isn't paying that much attention to this. the regular american doesn't watch the financial news. he isn't reading the kinds of papers we read. and he's less concerned with this. >> should they be? >> they probably should be, but investors are more concerned with corporate news, with macroeconomic news. the senator made a statement today. you would expect some kind of posturing this week. we're still 30 days out or so. they don't really have to cut a deal yet. they have to look like they're fighting for what they want to fight for, yet please the constituents. they're probably going to put that off for a couple weeks. >> it's the other way around. washington should be paying attention to the consumer and realize how much is the stake here. when you look at the consumer confidence levels able to hold up. when you look at the retail sales numbers pensimentioned by and the idea we've stabilized when it comes to capital spending,
who's right on the fiscal cliff right now? >> well, i think that -- >> steven gilfoil. >> the consumer isn't paying that much attention to this. the regular american doesn't watch the financial news. he isn't reading the kinds of papers we read. and he's less concerned with this. >> should they be? >> they probably should be, but investors are more concerned with corporate news, with macroeconomic news. the senator made a statement today. you would expect some kind...
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you have to do things now to get ready for the fiscal cliff. >> the fiscal cliff is coming. you are very well advised to take the lump sum today. even before you do that it is important that you think about your security. for my wealthy families i manage a family office so that would include our lottery winner. we practice a stealth strategy. lifestyle, transitioning and humanity which is charity. all of those things are important. the first thing you should do if you win tomorrow is to not tell anyone. you don't want people to know. >> i have pondered this question. a lot of states require that you show up. it is very difficult to stay secret because they want a lot of publicity. what happens is if you are poor and you have a lot of friends and family who are poor they come to you for money. >> you can have a day or two before you show it. the first thing i advise people to do is contact a very reptutable security firm. they are going to make sure that you are relocated to a safe place. if you are not a celebrity already. >> you said security firm i thought you meant securi
you have to do things now to get ready for the fiscal cliff. >> the fiscal cliff is coming. you are very well advised to take the lump sum today. even before you do that it is important that you think about your security. for my wealthy families i manage a family office so that would include our lottery winner. we practice a stealth strategy. lifestyle, transitioning and humanity which is charity. all of those things are important. the first thing you should do if you win tomorrow is to...
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maybe it's on the resolution of the fiscal cliff. that's positive going into 2013 in terms of a reallocation trade getting back to the energy, the materials, and the industrials. >> durable goods report today was better than many expected it to be. riday was pretty good.s good. a lot of the economic data coming in of late was pretty good. >> today if you look at the core durable goods and machinery and industrial goods, it was actually great for the first month of a quarter. usually that's the weakest month as the quarter progresses and gets strong. that was very, very unusual leading people to be optimistic. the interesting thing is the stocks didn't follow. cat was down or flat. deere is not doing much. so there's sort of this disconnect between the market and what we see from the economic data. >> the economy is front and center down in the nation's capital. the president meeting with more ceos today to discuss that and the fiscal cliff. we've the latest on the fiscal cliff negotiations. >> the president is meeting with small busi
maybe it's on the resolution of the fiscal cliff. that's positive going into 2013 in terms of a reallocation trade getting back to the energy, the materials, and the industrials. >> durable goods report today was better than many expected it to be. riday was pretty good.s good. a lot of the economic data coming in of late was pretty good. >> today if you look at the core durable goods and machinery and industrial goods, it was actually great for the first month of a quarter. usually...
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are we any closer to a tax and fiscal cliff fix? cnbc's own chief washington correspondent john harwood joins us now with all the details. good evening, john. >> reporter: good evening, laurie, and i think we are getting somewhat closer, and the white house would count it as good news that you found common cause with their report on the impact of fiscal spending. let's talk for a moment about what's happened on the fiscal cliff by the numbers since that early constructive meeting with the congressional leaders and the president. the numbers are all one. there's one month left for these leaders to figure it out. two, 1.4 it is is the amount to be shaved off by gdp and one is the amount of trillions of dollars that democratic aides, senior democratic aides tell me is necessary to get a deal wit end of the year with the remaining 3 trillion of savings coming in the early part of next year, ants finally one is the number of phone calls made over the weekend between president obama and house speaker john boehner so there hasn't been a lo
are we any closer to a tax and fiscal cliff fix? cnbc's own chief washington correspondent john harwood joins us now with all the details. good evening, john. >> reporter: good evening, laurie, and i think we are getting somewhat closer, and the white house would count it as good news that you found common cause with their report on the impact of fiscal spending. let's talk for a moment about what's happened on the fiscal cliff by the numbers since that early constructive meeting with the...
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>> put numbers on the fiscal cliff. we have an economy growing between 1 and 2% a year f we go over the cliff, take three 3 to 4% out of the economy. >> resession. >> put us in recession. why think they are going to sit there and let that happen any real period of time. a question whether they solve the problem in december before they go over could it in january or february, effective january 1. >> not to be glass half empty, you heard the harry reid comment. let's not forget, a lot of these men and women in congress are the same ones there putting blame on both parties to get us to here in the first place why should we be could confident the same people that got us here will get us out of it? >> politicians by nature don't take action until they are backed in a corner with the gun to their head. right knew in the correspondent the gun's loaded. >> recessionary gun. >> resessionnary gun. we as the american public are fools if we would elect, re-elect anybody that sat there and watched this thing go over the cliff. the b
>> put numbers on the fiscal cliff. we have an economy growing between 1 and 2% a year f we go over the cliff, take three 3 to 4% out of the economy. >> resession. >> put us in recession. why think they are going to sit there and let that happen any real period of time. a question whether they solve the problem in december before they go over could it in january or february, effective january 1. >> not to be glass half empty, you heard the harry reid comment. let's not...
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it is a fiscal cliff faceoff. president obama meeting with small business leaders at the white house this afternoon to make his case for higher taxes ahead. we will also go to the home state of a kai player in tey pl talks. >>> the chevy volt struggling to work with car makers aed car buyers. why is general motors doubling down with its big bet in electric and has it jumped its sales? >>> facebook stock up 10% in the past week and 30% the past two months. has it finally turned a corpser? >>> speaking of corners, we have switched corners, tyler, the gentleman that he is, is braving you the snow and the ice in new york city and he is down on the floor of the new york estock exchange. >> a mucky day. not since 2008 has it been so high. more evidence the housing recovery is taking root. prices rising in the big cities but a warning we may head into a recession next year if the u.s. and europe don't solve their fiscal messes. right now the dow industrials a built of a breather down 21 points. >>> meanwhile, 34 days to
it is a fiscal cliff faceoff. president obama meeting with small business leaders at the white house this afternoon to make his case for higher taxes ahead. we will also go to the home state of a kai player in tey pl talks. >>> the chevy volt struggling to work with car makers aed car buyers. why is general motors doubling down with its big bet in electric and has it jumped its sales? >>> facebook stock up 10% in the past week and 30% the past two months. has it finally turned...
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we're just a little over a month away from the fiscal cliff. do lawmakers have the courage to rise above and get a deal done? our guest hosts this hour are here to talk about it. roger altman, chairman of ever corp partners. in recent days, i'll start with you, ed, i don't know if we have gotten any closer or further away. i know the president is going to talk tomorrow and say he won't cross that line at 250 for the bush tax cuts. "the new york times" lead story is any effort to curb social spending in any way on entitlements is going to face a lot of resistance. that seems like we're as far apart as we were all along. >> thii think we are far apart. i'm an optimist. what you see in negotiations is everybody plays tough and pushes it to the 11th hour. >> is it a can kicking deal we get done or an actual deal? >> roger and i were talking about this before we came on. we both want to see it get done. my view is that it needs to get done correctly and what the it is is we shouldn't lump taxes and spending in the same bucket. when you call it the f
we're just a little over a month away from the fiscal cliff. do lawmakers have the courage to rise above and get a deal done? our guest hosts this hour are here to talk about it. roger altman, chairman of ever corp partners. in recent days, i'll start with you, ed, i don't know if we have gotten any closer or further away. i know the president is going to talk tomorrow and say he won't cross that line at 250 for the bush tax cuts. "the new york times" lead story is any effort to curb...
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goes off the fiscal cliff. just wait until you hear who he thinks should be the treasury secretary. >> we'll begin of course with the deal of the day. conagra foods has agreed to acquire ralcorp for $5 billion. $90 a share in cash. 28% premium to the closing price on monday. kayla tausche reported on potential for a deal between the two companies back in 2011. it creates the largest private label food company in north america. this is a big deal. >> yes, it is. it's big in size in terms of what we've seen in this market. look how excited he is. and they finally got it done. it's been one as you pointed out that was around in 2011. they couldn't get it done. that is conagra. they walked away. ralcorp stock price fell dramatically. they split the post cereal division from ralcorp. the two trade separately. so you did have a company here that perhaps became a little more -- i wouldn't say vulnerable. not as if they were committed to selling. the board composition changed. you have had activist shareholder get on t
goes off the fiscal cliff. just wait until you hear who he thinks should be the treasury secretary. >> we'll begin of course with the deal of the day. conagra foods has agreed to acquire ralcorp for $5 billion. $90 a share in cash. 28% premium to the closing price on monday. kayla tausche reported on potential for a deal between the two companies back in 2011. it creates the largest private label food company in north america. this is a big deal. >> yes, it is. it's big in size in...
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more worries about this darn fiscal cliff. that could send the economy into recession if washington doesn't make a deal to soften the draconian spending cuts. and the tax increases by the end of the year. i say could, meaning i believe it will. we need to take a cautious approach when it comes to retail because of the cliff. a lot of retailers are running right now. but we want to own something that won't be hurt too badly if we do go over the cliff. a stock that's pulled back dramatically of late. i'm talking about ross stores. r-o-s-t. the company behind two off-price retail concepts we can't get enough of here on "mad money." ross is an off price play like tjx, another strong, strong player, where people go to get terrific deals on merchandise that's been marked down dramatically. the company's pretty much immunized against a fiscal cliff. well, at least one that induces a recession. consider t hat since 2005, ross stores has had only a single quarter of negative same-store sales growth during the great recession in 2009. j
more worries about this darn fiscal cliff. that could send the economy into recession if washington doesn't make a deal to soften the draconian spending cuts. and the tax increases by the end of the year. i say could, meaning i believe it will. we need to take a cautious approach when it comes to retail because of the cliff. a lot of retailers are running right now. but we want to own something that won't be hurt too badly if we do go over the cliff. a stock that's pulled back dramatically of...
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same with the fiscal cliff. what are we saying with the fiscal cliff? we're saying the economy might be revealed to be what it's actually doing because we'll take away the artificial supports because we think it's held any enough now to maybe after itself. that might entail a step drop because at the moment we're giving these tax breaks, but we're doing it out of our saving. >> but the point isn't just that we have to restore a higher level perhaps of taxes and lower level of spending than we might like. the problem with the u.s. is it gets into that ideological dispute over whether the way to do that should be by cutting spending and raising taxes. so there is an actual sort of fundamental disagreement that underpins this sense of knee jerk -- >> why have we had to do this? we've had to borrow money and cut people 00 taxes and spend more on social services because the underlying private sector economy completely ran out of steam. it ran out of steam because it needs the banking system to feed off. it needs access to trade credit, to business finance, e
same with the fiscal cliff. what are we saying with the fiscal cliff? we're saying the economy might be revealed to be what it's actually doing because we'll take away the artificial supports because we think it's held any enough now to maybe after itself. that might entail a step drop because at the moment we're giving these tax breaks, but we're doing it out of our saving. >> but the point isn't just that we have to restore a higher level perhaps of taxes and lower level of spending...
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impact was from the fiscal cliff talks here in washington. just after 2:00 when the senate majority leader came to talk to reporters about progress in the talks take a look at this s&p chart and you see that the market drops right as harry reid speaks. talking about that lack of progress. let me tell you exactly what he said and why i think the market got it a little bit wrong today. here is harry reid's comment that the market was reacting to. >> there has been little progress with the republicans which is a disappointment to me. they talked happy talk about doing revenues but we only have a couple of weeks to get something done. we have to get away from the happy talk and start talking about specific things. >> my take on this is that the market heard the senate majority leader saying there is little progress up here but what he was really saying is there is little progress with the republicans. he wants more concessions from the republican side. what is happening here is really a negotiation between two sides. the democrats saying they wan
impact was from the fiscal cliff talks here in washington. just after 2:00 when the senate majority leader came to talk to reporters about progress in the talks take a look at this s&p chart and you see that the market drops right as harry reid speaks. talking about that lack of progress. let me tell you exactly what he said and why i think the market got it a little bit wrong today. here is harry reid's comment that the market was reacting to. >> there has been little progress with...
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we talked about the fiscal cliff. the consumer that you talk about, is probably the strongest in multiple years, is there a reconciliation here, and yet taxes going up? >> i'm not an economist. but i can say to you, look, great brands, command higher prices and drive consumers. we are all about taking the brands and growing those businesses globally. the world is going to go through ups and downs. i think that is what we have put together. i guess i would say that the u.s. consumer for the holiday season seems to be in good shape. >> thank you chairman and ceo. we are tieing there. after the break trying to make you some more money. >> coming up. the deal shook the street this morning. but as the shares heat up. should you be tempted to take a bite. cramer are unwraps what is ahead. but cramer has found pattern that is signaling the turn around. as jim goes off the charts. all coming up on "mad money." >>> this company has the most exposure to commodity prices. after a lengthy chase the company was able to make a move
we talked about the fiscal cliff. the consumer that you talk about, is probably the strongest in multiple years, is there a reconciliation here, and yet taxes going up? >> i'm not an economist. but i can say to you, look, great brands, command higher prices and drive consumers. we are all about taking the brands and growing those businesses globally. the world is going to go through ups and downs. i think that is what we have put together. i guess i would say that the u.s. consumer for...
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in the negotiations or the fiscal cliff. public events, private meetings, so far they are not set a date for them to get together. some quick headlines. tensions intensified in egypt as the muslim brotherhood president -- he has met with judicial leaders. that is the latest of egypt. and the los angeles times, syria is now a shell of its old self. the los angeles times reporting on that. and then this tension debate on whether susan rice should become the next secretary of state. this is the washington times. but as far back to our discussion this morning for all of you. going off the fiscal cliff, some democrats are saying that the possibility and wouldn't be so bad. steve, on our line for republicans, what do you think? caller: i totally agree with the caller from texas who said that we should return to the clinton era tax law. just think of that era we had. we had a budget surpluses. and we had a winning prosperity. i do not think we need to fear returning to the clinton tax law. and as the caller said from texas, the dem
in the negotiations or the fiscal cliff. public events, private meetings, so far they are not set a date for them to get together. some quick headlines. tensions intensified in egypt as the muslim brotherhood president -- he has met with judicial leaders. that is the latest of egypt. and the los angeles times, syria is now a shell of its old self. the los angeles times reporting on that. and then this tension debate on whether susan rice should become the next secretary of state. this is the...
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you've been talking about the fiscal cliff. the high-level negotiations ramping up as both sides of the aisle trying to reach some kind of deal before your taxes go up january 1st. and they will go up if there's no deal. we're going to talk to the people at the center of the discussions right now. pennsylvania senator pat toomey. maryland congressman chris van hollen. they were on the super committee that failed to reach a deal a year ago. and utah senator mike lee. plus u.n. ambassador susan rice meeting with three of her sharpest critics today on capitol hill to explain her description of the benghazi attack. could this remove the opposition to her possible cabinet nomination? could that be pommes coming as early as this week? and i hear we have a special guest coming. n nascar's danica patrick is going from the racetrack to the virtual world of video games. danica patrick is going to be here. >> i'd like to race in her car. >> yeah, yeah. >> can you pull that off for me? >> i'll see what i can do. i'll put in a good word for
you've been talking about the fiscal cliff. the high-level negotiations ramping up as both sides of the aisle trying to reach some kind of deal before your taxes go up january 1st. and they will go up if there's no deal. we're going to talk to the people at the center of the discussions right now. pennsylvania senator pat toomey. maryland congressman chris van hollen. they were on the super committee that failed to reach a deal a year ago. and utah senator mike lee. plus u.n. ambassador susan...
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companies trying to get a jump on the fiscal cliff. details and the oracle of all my speaking out on tax policy. next, i'll break down why warren buffett is just plain wrong. ♪ gerri: warren buffett is getting a lot of attention this week for his comments on the fiscal cliff . basically, the investing mobil says it rich people, that is people like him, should pay more in taxes. it sounds magnanimous. i believe the case he builds for higher taxes, well, the reasoning as a big hole in it. here is why. the contention that rich people will stop hiring is nonsense. we already know that more than a million americans to employ people and paying there taxes through there individual income-tax. according to the heritage foundation, the amount their taxes would rise would be equivalent to one employee salary. one person there would not hire. we will what is more, rinsed and young says these tax hikes would kill 710,000 jobs. buffett also says that rich people will stop investing. again, nonsense. when you tax something usually get less of it,
companies trying to get a jump on the fiscal cliff. details and the oracle of all my speaking out on tax policy. next, i'll break down why warren buffett is just plain wrong. ♪ gerri: warren buffett is getting a lot of attention this week for his comments on the fiscal cliff . basically, the investing mobil says it rich people, that is people like him, should pay more in taxes. it sounds magnanimous. i believe the case he builds for higher taxes, well, the reasoning as a big hole in it. here...
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as the fiscal cliff loons come will nutech still go over your 401k? peter barnes explains what to expect for your retirement savings next year. and today is the day to shop for the internet. the. cheryl: it is back to court for liberty university and their challenge the controversial law. their challenge is the employer mandate and to fund what they call abortion related services for thr employees. we have leaders well coming up with more. we know this case very well. >> yes, tardy at the supreme court. cheryl: the argument, is this going to fly? >> with the supreme court said is the first time around, we said that wasn't right. that nobody had been hurt yet. and so the mandate had been in place. so really you cannot argue that. but now what they are saying is that it isn't just an issue about the mandate. it is out a right of religion and that may be right. will they win? it is a fairly liberal cou area. i would be kind of surprised to see them win on these grounds. >> yes. this could set the stage for another go around. >> if they win in a small are
as the fiscal cliff loons come will nutech still go over your 401k? peter barnes explains what to expect for your retirement savings next year. and today is the day to shop for the internet. the. cheryl: it is back to court for liberty university and their challenge the controversial law. their challenge is the employer mandate and to fund what they call abortion related services for thr employees. we have leaders well coming up with more. we know this case very well. >> yes, tardy at the...
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the fiscal cliff negotiations under way. business leaders go to washington meeting republican and democratic house leaders. but is what is good for business really good for the country? the "a-team" next. the government tracking terrorists, criminals, and students. a texas school district wants to attract their students. big brother not a big hit with the students. protests are up in egypt over president more seize power grab. will the united states sit by quietly as he makes his move to become their leader? and is sure real law next? acclaims dollar middle east expert joining us next. ♪ [ engine revs ] ♪ ♪ [ male announcer ] the mercedes-benz winter event is back, no matter which list you're on. [ santa ] ho, ho, ho, ho! [ male announcer ] lease a 2013 ml350 for $599 a month at your local mercedes-benz dealer. heartburn symptoms causedelieve by acid refl disease. osteoporosis-related bone fractures and low magnesium levels have been seen with nexium. possible side effects include headache, diarrhea, and abdominal pain
the fiscal cliff negotiations under way. business leaders go to washington meeting republican and democratic house leaders. but is what is good for business really good for the country? the "a-team" next. the government tracking terrorists, criminals, and students. a texas school district wants to attract their students. big brother not a big hit with the students. protests are up in egypt over president more seize power grab. will the united states sit by quietly as he makes his move...
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and fiscal cliff. despite recent republicans pledges giving up pledge on taxes still don't see any resolution anytime soon. we expect it will be a brinkmanship game. will go down to the wire, maybe a little after. ashley: interesting. stick with europe a little bit. spanish political situation is interesting no doubt. he really has a battle on his hand not only getting the handle on the economy but fractious politics of these breakaway regions which for now are staying in place but how does this all impact going forward especially with regard to the euro and of course now that greece, for the time-being is being taken care of, where do you see it going? >> i think that the election this past weekend in cat loan yaw, which is one fifth of everything spain produces is produced in this one region. ashley: yeah. >> i think the election results, president of the region advocated this snap election. i think he didn't get quite what he wanted. he lost about 20% of his seats. ashley: yeah. >> many people in th
and fiscal cliff. despite recent republicans pledges giving up pledge on taxes still don't see any resolution anytime soon. we expect it will be a brinkmanship game. will go down to the wire, maybe a little after. ashley: interesting. stick with europe a little bit. spanish political situation is interesting no doubt. he really has a battle on his hand not only getting the handle on the economy but fractious politics of these breakaway regions which for now are staying in place but how does...
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of what people are calling the fiscal cliff. is the fiscal cliff cutting spending? the sequester? i don't think it leads to economic harm to cut spending. that's what we should be doing. the other half of the fiscal cliff is taxes will go up. i don't want them to go up. if you raise taxes on the top 1%, that's 50% of the nation's fiscal income. if you don't think raising taxes in a recession is a good idea, why would it be a good idea to raise them on anyone? >> greta: so do you think going off the fiscal cliff would necessarily be a bad thing? >> it would be a bad thing to raise taxes. it doesn't make sense to me. i don't accept that cutting spending is bad for the economy. i think cutting federal spending, which means less borrowing up here, is go for the economy, but i do think taxes going up is a bad thing for the economy. i agree with half of the equation of the fiscal cliff, but i don't agree if taxes going up is bad for the economy why would we only want half of the taxes to go up? >> greta: that's like the reverse of the
of what people are calling the fiscal cliff. is the fiscal cliff cutting spending? the sequester? i don't think it leads to economic harm to cut spending. that's what we should be doing. the other half of the fiscal cliff is taxes will go up. i don't want them to go up. if you raise taxes on the top 1%, that's 50% of the nation's fiscal income. if you don't think raising taxes in a recession is a good idea, why would it be a good idea to raise them on anyone? >> greta: so do you think...
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is charging full speed at the fiscal cliff. the dramatic fiscal tightening triggered by this press this could tip the u.s. and possibly the whole global economy into recession. here is more. >> precision craftsmanship, made in the usa the marlon still company in baltimore produces wire baskets for the automobile, defense, and medical industries. it is one of the fastest-growing companies in the u.s. the company president wants to keep it that way, but at the moment, he is holding off on further investments. >> this robot is a good quality robot. phowever, we want to buy the brand-new version that is made in germany. we are pausing right now because of the fiscal cliff. there is so much uncertainty about what will happen in the future. we are not pulling the trigger to by the german robot. >> the prospect of falling off the fiscal cliff frightens more than just greenblatt. numerous business owners across the country are withholding investments in choosing not to hire new workers. that is because numerous tax advantages expire at
is charging full speed at the fiscal cliff. the dramatic fiscal tightening triggered by this press this could tip the u.s. and possibly the whole global economy into recession. here is more. >> precision craftsmanship, made in the usa the marlon still company in baltimore produces wire baskets for the automobile, defense, and medical industries. it is one of the fastest-growing companies in the u.s. the company president wants to keep it that way, but at the moment, he is holding off on...
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more about the fiscal cliff. rebecca kaplan from "national journal" will be along a little bit later and brad woodhouse who has a shiny head looks just like stan collender -- >> hey hey! >> bill: brad woodhouse communications director for the dnc shaved his head as part of a bet. he will be in studio next hour. >> that's what happened to you stan. >> i lost a bet with god. i said you know, if you give me hair, i will wear it. he said no, not happening. >> bill: we'll see how brad looks. let's see if he looks as sharp as stan collender here. we'll be right back but first. >> this is the "full court press." >> other headlines making news, how about this headline. porn stores have this more together than one might think. a new study done by shippensburg university in texas. women's university find that female porn actors are more religious and have a higher self-esteem than other women. the study concluded these women do not fit the damaged goods hypothesis and have great social support and positive feelings but the
more about the fiscal cliff. rebecca kaplan from "national journal" will be along a little bit later and brad woodhouse who has a shiny head looks just like stan collender -- >> hey hey! >> bill: brad woodhouse communications director for the dnc shaved his head as part of a bet. he will be in studio next hour. >> that's what happened to you stan. >> i lost a bet with god. i said you know, if you give me hair, i will wear it. he said no, not happening. >>...
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the governor of delaware on getting ready for that fiscal cliff. because they were in the past not funny. they are taking computers with an insensitive and permission to have been conference is. it sounds crazy but is completely true. >> with the u.s. capital markets do you have copied at -- editors? >> what are you talking about? >> that was pretty funny. >> this is the agency that as criticism with bernie madoff looking at pornography on the job but it's in pieces are filtering out because there is a major battle going on between the near stock exchange and the sec. as a major computer breach. there are staffers and is one unit in this one department that have laptops that had direct access to the near stock exchange and nasdaq. the entire architect -- architecture for computer systems systems, security systems everything right? but there was a whistle-blower complaint in the ag came out to see that conferences we're going to conferences including the the black hat hacker conference. the sec said they did their examination but they found no evide
the governor of delaware on getting ready for that fiscal cliff. because they were in the past not funny. they are taking computers with an insensitive and permission to have been conference is. it sounds crazy but is completely true. >> with the u.s. capital markets do you have copied at -- editors? >> what are you talking about? >> that was pretty funny. >> this is the agency that as criticism with bernie madoff looking at pornography on the job but it's in pieces are...
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that the talks have stalled as it pertains to the fiscal cliff. does that just cause the markets to dive? >> yeah, i think so. i mean, i'm actually -- i feel like i'm standing in the wrong line, as it were, the wrong checkout line. the market continues to shrug its shoulders over these things. we have the incorrigible teenagers in washington who just cannot figure this out right now. it's pretty simple, taxes and spending. they want to make headlines, and i think the market's becoming fed up with it, and that's why we're seeing the action behind me, and we'll probably see more tomorrow. david: drew kanaly, it was a negative day, all of the indices were down, the nasdaq stopped its winning streak, but look at these headlines. liz, we had a lot of positive headlines when we woke up. consumer confidence, the best since february '08, the richmond fed saw a positive jump for its region, home prices continuing to rise, durable goods, better than expected. there was progress on those greek debt talks. i mean, despite all of these positive news items we g
that the talks have stalled as it pertains to the fiscal cliff. does that just cause the markets to dive? >> yeah, i think so. i mean, i'm actually -- i feel like i'm standing in the wrong line, as it were, the wrong checkout line. the market continues to shrug its shoulders over these things. we have the incorrigible teenagers in washington who just cannot figure this out right now. it's pretty simple, taxes and spending. they want to make headlines, and i think the market's becoming fed...
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let's turn to scott bauer of trading advantage to talk about this alleged fiscal cliff. what do you think - and good morning - deal or no deal, scott? > > good morning angie. yeah, there is going to be a deal. it may not be later this week, it may not be next week, but i think at a minimum we are going to see congress, the president, everyone say, you know what, we are on the table together here, and even if we have to extend this three months, six months, we are going to get it done. there is no way with the recovery that we have seen - and i'm not talking about the stock market recovery, i am talking more of the consumer sentiment recovery, housing recovery - with what we have seen the last quarter of this year, there is no way that the guys in washington can harm that or add anything to take the momentum away from that. it just won't happen. > let's talk about the stock market. what levels are you watching here? > > 1390 really held yesterday, during the sell-off in the morning. that is a real near- term support in s&ps. i think in the short-run, we see 1390- 1430 is
let's turn to scott bauer of trading advantage to talk about this alleged fiscal cliff. what do you think - and good morning - deal or no deal, scott? > > good morning angie. yeah, there is going to be a deal. it may not be later this week, it may not be next week, but i think at a minimum we are going to see congress, the president, everyone say, you know what, we are on the table together here, and even if we have to extend this three months, six months, we are going to get it done....
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even overshadowing the fiscal cliff. the markets today did not get a huge boost from the greek deal because they expected that it would happen. but they would have take an real hit had it not. bret? >> bret: amy kellogg in london. thank you. black friday shoppers got plenty of bang for the buck. that is later in the grapevine. up next, republicans try to zero in on hispanic voters. why is it that the most impressive technology often comes with a set of equally impressive instructions ? shouldn't something that's truly advanced, not need much explanation at all ? with the nokia lumia 822 on verizon, there's not much to learn because it's powered by windows... to let you do more than you ever imagined on your smartphone. exclusively with data sense-- a feature that makes the most of your plan. only on verizon. >> bret: republicans are already looking ahead to the next election. in 2014. they are trying to do something about the low numbers with hispanics. correspondent doug mckelway on the first steps this week. >> clearly
even overshadowing the fiscal cliff. the markets today did not get a huge boost from the greek deal because they expected that it would happen. but they would have take an real hit had it not. bret? >> bret: amy kellogg in london. thank you. black friday shoppers got plenty of bang for the buck. that is later in the grapevine. up next, republicans try to zero in on hispanic voters. why is it that the most impressive technology often comes with a set of equally impressive instructions ?...
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the president's fiscal cliff campaign. live pictures of the white house are president obama will meet today with 15 small business owners. the first of a series of meetings this week as the administration puts the pressure on congress to make a deal. the "washington post" reporting the talks are accelerating between president obama and top congressional leaders, including john boehner who was on the phone with the president over the weekend. the white house's pr campaign is being buoyed along by warren buffett who is voicing support for tax hikes for americans just like him. >> i think it would have a great effect in terms of the morale of the middle class who have seen themselves paying high payroll taxes, income taxes and then watched guys like me end up paying a rate that's below that, you know, paid by the people in my office. >> joining me now is wisconsin's republican senator ron johnson. senator, it's great to have you with us this morning. and as we talk about what's taking place in washington, d.c. right now, the
the president's fiscal cliff campaign. live pictures of the white house are president obama will meet today with 15 small business owners. the first of a series of meetings this week as the administration puts the pressure on congress to make a deal. the "washington post" reporting the talks are accelerating between president obama and top congressional leaders, including john boehner who was on the phone with the president over the weekend. the white house's pr campaign is being...
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cheryl: let's get fiscal on our fiscal cliff survival kit. who else but tracy byrnes with what you need to know and what you can do right now. dennis: a look at the day's winners on the s&p. cheryl. >> nicole petallides lived at the new york stock exchange every 15 minutes. we have you covered. things on the move and looking at according they may correlate glass with the outlet day shall look better than expected. used with this barbosa tablets. they see more demanded usual steve mad and is down nokia other stocks with the companies issuing dividend dividend -- dividend early to avoid the fiscal cliff part of back to you. >> with those higher dividend tax is. consumer confidence for november at the highest level since every 2008. just-in-time for the holiday is. will it continue? and joining us now is mark, we will stoke the fiscal cliff phobia but they just bought 30% more on cyber monday than one year-ago. >> consumers have tune it out. we always go to the brink and nothing happens. but what is happening with the job market? it is improving
cheryl: let's get fiscal on our fiscal cliff survival kit. who else but tracy byrnes with what you need to know and what you can do right now. dennis: a look at the day's winners on the s&p. cheryl. >> nicole petallides lived at the new york stock exchange every 15 minutes. we have you covered. things on the move and looking at according they may correlate glass with the outlet day shall look better than expected. used with this barbosa tablets. they see more demanded usual steve mad...
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but no deal in washington on this fiscal cliff. if you were there, how would you get a deal done, you can tweet us, we'll read the best answers at the end. but a lot of have you been getting mean with me, and personal insults, we will not tolerate it. -- but we will, because we don't get a lot, if we did we would show discretion. anything bad you have to say, send it to lou dobbs, -- kidding. >> meanwhile, white house morning that uncertainty over fiscal cliff tax hikes could keep holiday shoppers from spending. and katie said, mr. president look in the mirror, do something about it. right now know onus on republico make concessions on revenues. part of those consequences from elections were boein both sidesg a little, i see it just one way thus far. >> we have white house coming out with the economic numbers warning that middle class might not go out and spend on holiday gifts. neil: do you believe it? >> i don't. neil: all right, it would take a ama c truck and a thum thermonur reactioning to stop my wife. >> they are trying to u
but no deal in washington on this fiscal cliff. if you were there, how would you get a deal done, you can tweet us, we'll read the best answers at the end. but a lot of have you been getting mean with me, and personal insults, we will not tolerate it. -- but we will, because we don't get a lot, if we did we would show discretion. anything bad you have to say, send it to lou dobbs, -- kidding. >> meanwhile, white house morning that uncertainty over fiscal cliff tax hikes could keep holiday...
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fiscal cliff a menacing term here. now we know we are just under 35 days away before we fall off that cliff. which could lead to deep spending cuts. want to bring in republican senator pat toomey from pennsylvania. he was a member of the deficit reduction super committee last year that failed to agree on a plan. but he's been talking about this issue for a long, long time. good morning, senator. >> good morning. >> we just learned that president obama will be traveling to your backyard on friday to talk about the fiscal cliff and spending, and traveling to pennsylvania right now. is this a welcome visit as far as you're earned? >> as far as i'm concerned the president of the united states is always welcome in my state of pennsylvania. we welcome the president and look forward to his message, and i have some questions i'd like to-ish i hope he addresses. >> what questions? >> first of all the president seems absolutely determined to inflict a tax increase on the american people. two years ago he signed a bill that exten
fiscal cliff a menacing term here. now we know we are just under 35 days away before we fall off that cliff. which could lead to deep spending cuts. want to bring in republican senator pat toomey from pennsylvania. he was a member of the deficit reduction super committee last year that failed to agree on a plan. but he's been talking about this issue for a long, long time. good morning, senator. >> good morning. >> we just learned that president obama will be traveling to your...
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cliff, grow an and this fiscal cliff, have a f twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read and conder it carefully before investing. risk includes possible loss of principal. ♪ [ male announce] they are a glowing example of what it means to be the best. and at this special time of year, they shine even brighter. come to the winter event and get the mercedes-benz you've always wished for, now for an exceptional price. [ santa ] ho, ho, ho, ho! [ male announcer lease a 2013 glk350 for $399 a month at your local mercedes-benz dealer. neil: all right, tell the truth, a lot of you were shopping at work today, cyber monday. but no deal in w
cliff, grow an and this fiscal cliff, have a f twins. i didn't see them coming. i have obligations. cute obligations, but obligatio. i need to rethink the core of my portfolio. what i really need is sleep. introducing the ishares core, building blocks for the heart of your portfolio. find out why 9 out of 10 large professional investors choose ishares for their etfs. ishares by blackrock. call 1-800-ishares for a prospectus which includes investment objectives, risks, charges and expenses. read...
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so there are a lot of things to consider with the fiscal cliff so the fiscal cliff will affect everybody. >>> they're talking more about the gas tax, more money to fly, thank you, sharon. >>> sure. >>> and speaking of the economy and spending, a lot of spending is going on right now, in what most agree is a tough economy. today was the day they called cyber monday because of the volume of on-line shopping. tonight we have a camera inside an amazon.com distribution center in phoenix, where workers are processing a mind-numb amount of processing a mind-numbing amount of orders, they expect to top the amount this year. cnbc's courtney reagan is topping the story for us. she is with us tonight from a legendary retailer, bloomingdales, in mid-town manhattan. >> reporter: good evening, cyber monday used to be a day when people who didn't have a home computer returned to the office to shop on line. well, times changed. the retailers offered deals last week and hope that cyber monday will give the shoppers yet another reason to spend. after a long and for some, chaos-filled thanksgiving day week
so there are a lot of things to consider with the fiscal cliff so the fiscal cliff will affect everybody. >>> they're talking more about the gas tax, more money to fly, thank you, sharon. >>> sure. >>> and speaking of the economy and spending, a lot of spending is going on right now, in what most agree is a tough economy. today was the day they called cyber monday because of the volume of on-line shopping. tonight we have a camera inside an amazon.com distribution...
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do you believe a deal can and will be reached before this fiscal cliff? >> i do believe a deal can be reached, and the basisser that agreemenbase basis of that agreement has to be revenues and cuts. we've done a trillion dollars in cuts as part of the control act. the president has additional cuts. he's got more healthcare cuts than simpson-bowles proposed. he doesn't do it by transferring -- martha: that deal did not go through. do you expect the president will sit down with leadership this week to discuss this and take a leadership role in this fight? >> the president is taking a leadership role in this fight. i think people need to sit down as they have looked for ways to find progress. as you know the president already had the congressional leaders to the white house a little while back. people are pursuing different ideas right now to try to make -- to try and prevent us from going over the fiscal cliff, and the president has laid out a very clear map, road map for how we do that. martha: all right we walked right up to it in the grand bargain and th
do you believe a deal can and will be reached before this fiscal cliff? >> i do believe a deal can be reached, and the basisser that agreemenbase basis of that agreement has to be revenues and cuts. we've done a trillion dollars in cuts as part of the control act. the president has additional cuts. he's got more healthcare cuts than simpson-bowles proposed. he doesn't do it by transferring -- martha: that deal did not go through. do you expect the president will sit down with leadership...
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new estimates show going over the fiscal cliff could cost the economy, the equivalent of four times what shoppers spent over black friday weekend. >> tom: i'm tom hudson. it's cyber monday, and shoppers are online, and spending; they'll shell out an estimated $1.5 billion online today. >> susie: and change comes to the nation's top securities regulator: mary schapiro is stepping down. we look at what's next for the securities and exchange commission, and its new leader. >> tom: that and more tonight on "n.b.r."! >> susie: americans were back at work today after a long holiday weekend, but returned to the same worries about the fiscal cliff. and a new report from the white house added to the worries, showing that unless there's a deal on solving the crisis, the u.s. economy would suffer big time. the obama administration's economists estimate consumers would spend about $200 billion less next year than they would have otherwise. congress and the administration have only a few more weeks to nail down a deal. but that deal will have to address some tough issues, including entitlement reform
new estimates show going over the fiscal cliff could cost the economy, the equivalent of four times what shoppers spent over black friday weekend. >> tom: i'm tom hudson. it's cyber monday, and shoppers are online, and spending; they'll shell out an estimated $1.5 billion online today. >> susie: and change comes to the nation's top securities regulator: mary schapiro is stepping down. we look at what's next for the securities and exchange commission, and its new leader. >>...
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cliff and call it the fiscal bluff. >> stephanie: i'm sorry. caught me. caught me. >> there's a road in the fiscal bluff. >> stephanie: you're on with steven. >> caller: howdy everybody. i remember you on wings too by the way. >> thanks. >> stephanie: well join the club. >> actually my favorite, i watch the reruns. my question is this, how can a guy named grover have so much power over these republicans? >> stephanie: yeah, that's what i mean, one republican said this was a pledge for a congress that was 20 years ago. why are people still pretending it or he is rely at this point? >> hello there! he does grover impressions too. >> i'm grover. >> stephanie: he's delightful. he just is. by the way one other magical degree of stephanie miller separation a couple of weeks ago, i got an email from amy she likes watching the beach she says. >> who doesn't? she does it beautifully. didn't the daily show do a section on grover norquist that he came up with this whole pledge idea when he was like in the seventh great. he literally did. >> stephanie: tha
cliff and call it the fiscal bluff. >> stephanie: i'm sorry. caught me. caught me. >> there's a road in the fiscal bluff. >> stephanie: you're on with steven. >> caller: howdy everybody. i remember you on wings too by the way. >> thanks. >> stephanie: well join the club. >> actually my favorite, i watch the reruns. my question is this, how can a guy named grover have so much power over these republicans? >> stephanie: yeah, that's what i mean, one...
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we look at the fiscal cliff or as steve calls it the fiscal slope or the fiscal fiesta and of course the fiscal follies. we'll install our own special graphic later this week. it's our new style of play and our next guest might want to be a pair here as he writes about it every day until the situation is resolved. sounds riveting. in the guest spot today is dan gross, the columnist and global business editor for "newsweek" daily beast who says in his latest piece republicans still haven't recognized the new reality. dan, you may be right. i don't know. i guess we'll see. if republicans do agree to raise taxes, do you think that democrats will agree to any health care entitlement reform? which is the harder sell? >> no, i don't think so. that's why i'm so pessimistic or actually so optimistic about going over this fiscal cliff. usually when i threaten to write about something every day until it is resolved, it gets resolved quickly. we'll see in this case. >> that's power. >> the election kind of ratified the stance. which is the bush tax cuts should expire for those making over a cer
we look at the fiscal cliff or as steve calls it the fiscal slope or the fiscal fiesta and of course the fiscal follies. we'll install our own special graphic later this week. it's our new style of play and our next guest might want to be a pair here as he writes about it every day until the situation is resolved. sounds riveting. in the guest spot today is dan gross, the columnist and global business editor for "newsweek" daily beast who says in his latest piece republicans still...
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cliff. yesterday the white house took a hard line insisting tax rates have to rise on the rich. and warning that any more delay on a deal could ruin consumer confidence and hurt-day retail sales. nbc's tracie potts joins us from washington with all of those details. tracie, good morning to you. >> reporter: hi, lynn. good morning, everyone. as we track negotiations over the next few weeks, keep in mind that the key sticking point seems to be how do you get people who earn over $250,000 to contribute more? limit their deductions? close loopholes? or raise their tax rates? today president obama meets with small business leaders continuing his push for higher taxes for the wealthy. a new white house economic report warns if tax breaks go away, the average middle-class family will owe uncle sam another $2,200 next year. >> it seems to be the thing that we can all agree on, that middle-class families should see an extension of these tax cuts. >> reporter: some prominent republicans who have been
cliff. yesterday the white house took a hard line insisting tax rates have to rise on the rich. and warning that any more delay on a deal could ruin consumer confidence and hurt-day retail sales. nbc's tracie potts joins us from washington with all of those details. tracie, good morning to you. >> reporter: hi, lynn. good morning, everyone. as we track negotiations over the next few weeks, keep in mind that the key sticking point seems to be how do you get people who earn over $250,000 to...
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so goes the story that is the fiscal cliff. the president is stepping up his outside game with events this week to 0 build public support. some call it posturing for his preferred combination of tax ineeses and spending cuts. a contrast from how the white house conducted itself during the 2011 debt ceiling standoff. ultimately this fight comes down to another number, 218. the number of house votes needed for a deal. and it's not clear that his efforts will persuade 100 to 120 house republicans who are needed at a minimum for boehner to get a deal done to get to the 218 overall. remember these republicans believe just as fervently as the white house does that they have their version of public opinion on their side. why can do we think this? when it comes to their own voter, both sides are right. the president won re-election fairly handily, but so did republican incumbents in the house. these are some stunning statistics that gerrymandering has created. 93% of the 205 house republicans who ran for re-election won. 88% of them wo
so goes the story that is the fiscal cliff. the president is stepping up his outside game with events this week to 0 build public support. some call it posturing for his preferred combination of tax ineeses and spending cuts. a contrast from how the white house conducted itself during the 2011 debt ceiling standoff. ultimately this fight comes down to another number, 218. the number of house votes needed for a deal. and it's not clear that his efforts will persuade 100 to 120 house republicans...
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now a hike in the national gas tax could be part of the fin al compromise to avoid the fiscal cliff. can you believe it? republican senator james improve joins us with reaction. >>> how been a assault rifle under the christmas tree? black friday shopping blows away records for gun sales. one gun store rep is here to explain why because i'm not sure i get it. >>> will the keystone xl pipeline make it or not? the final public hearing is just days away. pressure is mounting on president obama to approve the new route. ceo of transcanada is here for a fox business exclusive. even when they say it's not it is always about money melissa: first let's take a look at the day's market headlines. stocks bit it for the second straight day senate majority leader harry reid indicated that little progress has been made in recent fiscal cliff talks. big surprise there. so you're welcome, investors. the major intoday sees slid on the news and the dow fell 89 points. >>> shares of green mountain coffee are skyrocketing after-hours. the company solidly beat expectations for fiscal fourth quarter earnin
now a hike in the national gas tax could be part of the fin al compromise to avoid the fiscal cliff. can you believe it? republican senator james improve joins us with reaction. >>> how been a assault rifle under the christmas tree? black friday shopping blows away records for gun sales. one gun store rep is here to explain why because i'm not sure i get it. >>> will the keystone xl pipeline make it or not? the final public hearing is just days away. pressure is mounting on...
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we're talking about the fiscal cliff. one of the urgent matters this lame duck congress needs to address before the end of the year and even though the tax increases are going to take effect in 36 days, there's still only talk of a compromise, so can congress actually walk the walk or are we going to go off this cliff? it is a very real risk, everyone. up next, mike lee of utah. really appreciate you taking the time. you wrote an op-ed in the washington times and said quote, delaying significant fiscal restraint will send the wrong signal and may serve as taping point for our economy. so you're fear is that interest rates could surge. to be father, we've had this disastrous situation for years and interest rates have kept falling in spite of all worries that there would be a disaster. >> that's right. that's one of the things that distinguishes the fiscal cliff, which we're coming up against right now. from what i described yesterday in my editorial in the washington times, the fiscal avalanche. we can see when the fiscal
we're talking about the fiscal cliff. one of the urgent matters this lame duck congress needs to address before the end of the year and even though the tax increases are going to take effect in 36 days, there's still only talk of a compromise, so can congress actually walk the walk or are we going to go off this cliff? it is a very real risk, everyone. up next, mike lee of utah. really appreciate you taking the time. you wrote an op-ed in the washington times and said quote, delaying...
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cliff or the fiscal slope. and this is a really interesting thing though, martin, and i think progressives have it right here, which is when we're talking about this grand bargain or we're talking about cuts in tax cuts and revenue, we need to talk about what these things mean. when we're talking about getting more revenue through tax cuts, we're asking the top 2% of people in america who can afford to do so to pay a little more in taxes. but when you start talking about some kind of grand bargain where you're cutting medicare and medicaid, we're talking about people's lives and health care. this is part of the reason why the president doesn't want social security to be part of it. why folk on the left are still angry that something like medicare or medicaid are sort of used as false equivalencies with tax increases. we have to think about people's real lives and health care really addresses those issues versus wealthy folk paying a little more. >> david, if that's the case, if professor peterson is right, why
cliff or the fiscal slope. and this is a really interesting thing though, martin, and i think progressives have it right here, which is when we're talking about this grand bargain or we're talking about cuts in tax cuts and revenue, we need to talk about what these things mean. when we're talking about getting more revenue through tax cuts, we're asking the top 2% of people in america who can afford to do so to pay a little more in taxes. but when you start talking about some kind of grand...
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keep in mind, if we go over the fiscal cliff, taxes go up. but in order to avoid the fiscal cliff, it's likely washington would have to raise taxes anyway. so anyway dividends now are better than dividends later. >> interesting to see how this is all going to play out. thanks, scott. >> giving money for christmas is always easier than shopping and standing in line. thank you very much. >>> well, investigators right now trying to figure out exactly how shreds of sensitive documents ended up being tossed out as confetti during the recent macy's thanksgiving day parade. spectators in new york city last thursday noticed some of that confetti included social security and license plate numbers. that's not good. some even found notes about mitt romney's police motorcade when he visited new york last month. the debris didn't really bother santa too much but it appears to have originated from the police department in long island. >> i guess they looked like pretty big pieces of confetti. >> let me see what's on there. >> read the fine print. >>> all r
keep in mind, if we go over the fiscal cliff, taxes go up. but in order to avoid the fiscal cliff, it's likely washington would have to raise taxes anyway. so anyway dividends now are better than dividends later. >> interesting to see how this is all going to play out. thanks, scott. >> giving money for christmas is always easier than shopping and standing in line. thank you very much. >>> well, investigators right now trying to figure out exactly how shreds of sensitive...
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let's talk about the fiscal cliff negotiations. what negotiations? what's happening behind the scenes? >> first of all, i just heard what mr. mcconnell said. and i just left the president. one of the things that he said to us, he said, don't pack up your bags. in other words, he's determined to get this deal done and get it done before the end of the year. the fact is, the president is very much engaged but he also understands that one of the things he's got to do is get a balanced package done. he's got to have revenue and he's also got to have some very targeted cuts. so -- and he also is trying to get across the point that republicans and democrats agree that those folks making less than $250,000, their tax cuts should be extended. so, again, we've got a situation now where the republicans can stand on the sideline or they can adhere to what the public has said in this election. they want us to get the deal done and move forward. at least we can get done what we already agree on. >> would you agree, auwould you and other house democrats agree in s
let's talk about the fiscal cliff negotiations. what negotiations? what's happening behind the scenes? >> first of all, i just heard what mr. mcconnell said. and i just left the president. one of the things that he said to us, he said, don't pack up your bags. in other words, he's determined to get this deal done and get it done before the end of the year. the fact is, the president is very much engaged but he also understands that one of the things he's got to do is get a balanced...
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. >>> back to the bargaining table, the fiscal cliff. many lawmakers are saying they're open to breaking their pledge. >> peter king who tried to weasle out of it i hope his wife understands that commitments last more than two years. >> that was a bit below the belt, grover. >>> the crane that collapsed in australia also owns the crane in new york that collapsed during hurricane sandy. >>> bracing for a wintry mix. know and rain moving in from the midwest. >> amazing story of survival. man using the lid of a cooler to tread water for hours after his boat capsized. >>> all that -- >> anthony for three. >> charlie rose co-hosting "cbs this morning" in the early am -- >> touchdown, carolina. >> carolina wins 30-22. >> and all that matters -- >> you and i have lived much different lives. i mean i think that is apparent. >> you are a white man. >> i am a -- >> cyber monday the biggest shopping day online ever. >> cyber monday which means i was drunk when i bought all that crap tuesday. captioning funded by cbs >>> welcome to "cbs this morning
. >>> back to the bargaining table, the fiscal cliff. many lawmakers are saying they're open to breaking their pledge. >> peter king who tried to weasle out of it i hope his wife understands that commitments last more than two years. >> that was a bit below the belt, grover. >>> the crane that collapsed in australia also owns the crane in new york that collapsed during hurricane sandy. >>> bracing for a wintry mix. know and rain moving in from the midwest....
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economy heading for a plunge over the fiscal cliff? with us now, associate editor and columnist for "the hill", a.b. stoddard. so what are the folks that you cover there on capitol hill, what are they saying about the prospects here? >> well, in the last 10 days it starts to sound more and more like democrats don't really have a problem with going over the slope or the cliff. they won't really admit that but it seems that they're not working so hard to stop it. you see the white house trying to tell americans that there is going to be such a steep tax increase on the middle class that it could affect consumer spending at the holidays. that is 20% of total retail consumer demand for the year. that would have a bad effect on the economy. republicans have already agreed to increase taxes on the wealthy. when you heard senator gram and others say they're willing to cap deductions and close loopholes. they're willing to find new revenues we know taxes on the wealthy are going up. what we're talking about is an increase in rates. republicans
economy heading for a plunge over the fiscal cliff? with us now, associate editor and columnist for "the hill", a.b. stoddard. so what are the folks that you cover there on capitol hill, what are they saying about the prospects here? >> well, in the last 10 days it starts to sound more and more like democrats don't really have a problem with going over the slope or the cliff. they won't really admit that but it seems that they're not working so hard to stop it. you see the white...
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if we let -- go over the fiscal cliff, it's going to solve our fiscal problems. the deficit will essentially go away. the bad side we're in a deep recession and the deficit will go away. this is an economy that can't afford to have 4% of our spending disappear just next year. we'll see a recession next year almost for sure and for certain. so that's the sense in which i think this is something to worry about. we want -- the recovery is faltering right now and we really don't need congress clubbing it over the head again, pushing us back down yet again. >> yet again. justin, thank you, sir, from the university of michigan. great to have you. >> thanks, alex. >> catch one of the key players in the fiscal cliff negotiations right here on "now" when senator patty murray joins us tomorrow at noon eastern. >>> and coming up after their romney nominee received just over a quarter of the latino vote republicans say they're ready to put up when it comes to comprehensive immigration reform. what are they doing about it? so far putting up a lot of window dressing. the displ
if we let -- go over the fiscal cliff, it's going to solve our fiscal problems. the deficit will essentially go away. the bad side we're in a deep recession and the deficit will go away. this is an economy that can't afford to have 4% of our spending disappear just next year. we'll see a recession next year almost for sure and for certain. so that's the sense in which i think this is something to worry about. we want -- the recovery is faltering right now and we really don't need congress...
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cliff. yesterday the white house took a hard line insisting tax rates have to rise on the rich and warning that anymore delay on the deal could ruin consumer confidence and hurt holiday retail sales. nbc's tracie potts joins us from washington with the details. tracie, good morning. >> reporter: good morning, lynn. today we'll see a continued push by the white house. in fact, for the rest of this week, new details released this morning, still pushing for those taxes on the rich. meantime, here on capitol hill we're seeing some small signs of compromise. today president obama meets with small business leaders continuing his push for higher taxes for the wealthy. a new xhous economic report warns if tax breaks go away, the average middle class family will owe uncle sam another $2200 next year. >> it seems to be the thing we can agree on, that middle class families should see an extension of these tax cuts. >> reporter: some prominent republicans dead set against raising taxes on anyone now hin
cliff. yesterday the white house took a hard line insisting tax rates have to rise on the rich and warning that anymore delay on the deal could ruin consumer confidence and hurt holiday retail sales. nbc's tracie potts joins us from washington with the details. tracie, good morning. >> reporter: good morning, lynn. today we'll see a continued push by the white house. in fact, for the rest of this week, new details released this morning, still pushing for those taxes on the rich. meantime,...
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the fiscal cliff is a bluff. now, defaulting on the debt, that's something real. you could spark some global financial crisis. but the fiscal cliff, people are going to wake up january 2nd, 3rd, 4th, 5th, and nothing substantial will have changed. because these are cuts that are phased in, it'll take a long time for the withholding to start hitting people's paychecks, and even after withholding starts hitting people's paychecks, you're not going to see an immediate change in spending that would have some type of immediate and cataclysmic effect on the economy. what does immediately change is december you have the bush tax rates in effect. january, you have the clinton tax rates in effect. democrats are better off negotiating from the clinton rates and then they're saying, okay, look, here are the rates, we're going to bring this down, we're going to bring this down. we're going to leave these how they are. how would you like to vote for this? are you going to oppose this? and people didn't really vote for compromise necessarily this election. they overwhelmingly e
the fiscal cliff is a bluff. now, defaulting on the debt, that's something real. you could spark some global financial crisis. but the fiscal cliff, people are going to wake up january 2nd, 3rd, 4th, 5th, and nothing substantial will have changed. because these are cuts that are phased in, it'll take a long time for the withholding to start hitting people's paychecks, and even after withholding starts hitting people's paychecks, you're not going to see an immediate change in spending that would...